Mr. Davidson is a highly experienced geologist with more than 25 years of open-pit and underground operating expertise. Having spent over a decade with Newmont Corporation, Mr. Davidson held numerous senior geology roles, managed robust exploration drill programs and managed all geology related aspects of the numerous mines including ore control, mine design and risk mitigation and geologic modeling. Mr. Davidson also implemented many safety initiatives and new technologies for continuous improvement. Most recently, Mr. Davidson joined Nevada Gold Mines, a Joint Venture company between Barrick Gold Corporation and Newmont Corporation in Nevada, formed in 2019. At Nevada Gold Mines, Mr. Davidson worked extensively throughout the Carlin Trend, Turquoise Ridge district, responsible for the geologic teams on nearly a dozen Nevada based operating mines, as well as mentoring geology teams in the Cortez district. Earlier in his career, Mr. Davidson was the senior geologist and mine planning engineer for Rio Tinto at its Boron Operations in California and Greens Creek Mine in Alaska. In addition, Mr. Davidson worked for Hecla Mining on the past producing high-grade Rosebud Mine in Winnemucca, NV which is located within the Hycroft Mine land position.
Diane R. Garrett, President & CEO commented "We are delighted to have someone of Mr. Davidson's caliber joining our team. Alex is an exceptional technical leader with superb and broad geologic expertise and a superior track record of reserve growth and operational excellence. His extensive depth of technical experience in Nevada based operations, particularly with his knowledge of the neighboring past producing high-grade mine Rosebud, will be invaluable to our organization as we continue to take the world class Hycroft Mine up the value chain."
Alex Davidson commented: "I am excited to join Hycroft at a time of significant opportunity. I look forward to working with the executive leadership team and the technical mine team helping the company execute on its technical priorities focused on value-added growth, mine development and its commitment to all stakeholders. It is very exciting to be able to work with a team committed to a culture of safety on a project that has such great growth potential both within the mine and across the district. This district has been significantly underexplored opening the potential for higher grade style mineralization".
Mr. Davidson holds a B.S. in Natural Science with emphasis in Geology from Western Oregon State
College.
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The company's vice president of Exploration, Alex Davidson, commented, "These initial drill results confirm the higher-grade opportunities identified in the 2021 drill program. While we have only just begun investigating the planned targets of our 2022-23 drill program, these results are very encouraging and further confirm the importance of additional drilling to explore the untapped potential of the Hycroft deposit."
"Importantly, we are observing the high-grade zones are more continuous than previously interpreted in addition to seeing silver and gold grades significantly higher than the average grade at the Hycroft deposit," Davidson added.
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Alex Davidson , Vice President, Exploration commented, "We continue to receive encouraging drill results confirming the higher-grade opportunities identified in the 2021 drill program. The drill results announced today continue to demonstrate improved continuity in the higher-grade areas as compared with the current model, and at much higher grades than the average grade modeled for the Hycroft deposit. Particularly exciting for the Hycroft team is RC hole H22R-5648 from the Brimstone area which has multiple intercepts that significantly outperform the model and are at very near true thickness."
Drilling from the Vortex area intercepted multiple ore zones down hole and returned gold values where previously little gold was identified or modeled as Vortex is known for being predominately a silver deposit. In particular, RC hole H22R-5669 in the Vortex area has several intercepts returning gold, where no gold was modeled previously. One of these intercepts has 48.8 meters of 0.46 g/t gold and 75.79 g/t silver.
The drill results to date have increased our understanding of the geologic setting of the Hycroft mineralization, both the higher-grade zones and the more disseminated areas throughout the property.
Diane R. Garrett , President & CEO commented "We are very excited about this next group of drill results that continue to support our belief in the untapped potential at Hycroft. Our objectives are multi-fold: (1) to improve the resource grade at Hycroft; (2) identify a higher-grade starter pit which would reduce upfront capital requirements for the next phase of operations; and (3) explore for new targets within our vast land position. Hycroft is one of the largest gold and silver deposits in the world located in the Tier-One mining jurisdiction of Nevada, USA and permitted for both heap leach and milling operations."
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Alex Davidson, Vice President, Exploration commented, "The initial drilling campaign has focused on higher-grade opportunities primarily in the Brimstone, Vortex, and Central zones. All 20 RC drill holes reported to date have returned ore grade mineralization, of which 14 holes have outperformed the model resulting in higher grades than previously estimated or known. The results to date are very exciting as we established continuity between the higher-grade zones along structures. In addition, we continue to enhance the project economics through in-fill drilling that have demonstrated mineralization in areas previously considered to be waste."
Hole H22R-5671 drilled in Brimstone returned very exciting results with multiple intercepts extending high-grade gold mineralization both north and up dip of the known high-grade zones. The high-grade silver Vortex zone continues to deliver positive results with Hole H22R-5670 returning two significant intercepts demonstrating mineralization continues south along the East Fault.
Alex Davidson further stated, "Drilling in the Central zone is delivering ore grade mineralization where none was previously modeled. The grades we are seeing in the Central zone are more than double the average resource grade and extends mineralization farther south than previously understood.
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Hycroft Mining hired a new highly respected VP of Exploration. I’m told he thinks Hycroft’s land is a “geologist’s dream“ and a “golden opportunity.” Remember, Hycroft has explored only about 2% of its 71,000 acres. Are there more gold and silver reserves to be found? Exciting!
